Has The US Housing Market Really Bottomed?http://www.businessinsider.com/housing-bottom-or-head-fake-2012-12/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Wed, 13 Dec 2017 22:42:05 -0500Charles Hugh Smithhttp://www.businessinsider.com/c/50cba1a16bb3f71b5600000fhammermanFri, 14 Dec 2012 17:01:05 -0500http://www.businessinsider.com/c/50cba1a16bb3f71b5600000f
People looking to buy now are better off with FHA anyway...imagine someone putting up 20% ($40,000) on a $200k house even two years ago; the house is worth the same or less today...They just rented from the bank but paid a $40,000 security deposit and now have obligations like roofing, foundations and furnaces to worry about...not to mention being stuck in one place unless you take out another loan to cover your loss plus the new place. Two guys at my work had to take $20,000-$30,000 loss to sell their house after 4 years of living there because they have 2 kids now and needed a bigger place enough to accommodate them. They bought before they planned out the next 5 years of their lives.
living in metro areas...rent wins :)http://www.businessinsider.com/c/50c177dc69beddca49000014Gary AndersonFri, 07 Dec 2012 00:00:12 -0500http://www.businessinsider.com/c/50c177dc69beddca49000014
Here is the problem with housing Bob. The inevitable price direction must be down, as fewer workers are available to buy the houses and their wages are flat to declining in a world economy. Cash only buyers are getting shy, and the market is freezing out most others. Therefore, unless the housing bubble the bankers want comes to pass, the trend must be down. The easy money bubble could happen, and it will be hurtful but very short lived, as the main street guy will not be so quick to fool the next time.http://www.businessinsider.com/c/50c122b469bedd6f7f000006Bob123Thu, 06 Dec 2012 17:56:52 -0500http://www.businessinsider.com/c/50c122b469bedd6f7f000006
Doomer. Don't listen to him.
I am applying a new HOL now. Banks can't wait to give me one. Going out for my lobster dinner tonight.